Top Strategist: Silver Surging To At Least $50

Should you buy silver on the pullback? According to strategist John Stephenson there’s no time like the present.

He thinks silver is on the brink of a surge. In fact, he’s calling for silver to hit new record highs - - $50 / ounce. The Fast Money traders were so intrigued by this very bold call they wanted to hear more.

”If you look at the ratio of silver to gold during the 1970’s (which is the last time it hit an all time) it was 16-1.” Now that ratio is even greater. “It’s currently at 50-1. That would imply silver should be at $88,” he says.

If you’re concerned about demand for silver falling off, Stephenson says don’t be. He thinks money continues to rotate into silver (and all precious metals for that matter) due to growing “concerns with the level of debt that the government is racking up in the US.” In other words Stephenson expects the so-called race to debase will generate investor interest in metals for some time to come.

How should you trade?

Of all the names listed above, Stephenson tells the desk he likes Silver Wheaton best “because it’s not really a miner it’s a royalty company. And its going to double production over the next two years."

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